After raising a family in a home filled with memories and belongings, the time inevitably comes to close the chapter and move forward. For many people, that means they downsize. From their home to their belongings, they sell, donate, or toss anything they no longer wish to own or maintain.
But before undertaking the monumental task, it’s a good idea to learn more about the common pitfalls and mistakes that people make when they downsize. Here’s what you need to know:
Not Having a Plan
What is the ultimate goal you wish to accomplish by downsizing? Do you want to move to a home with less yard care or management? Do you want to travel? Do you want to be closer to your grandkids? Or something else? Always make a plan before you start downsizing. It will impact how you go about it.
Downsizing Too Soon
People sometimes hit a milestone, such as retirement or a certain age, and begin the task of downsizing because they think that is what they’re supposed to do. But this approach doesn’t account for the life you wish to continue leading after the job is done. If you are personally not ready or wanting to part with your possessions yet, then you don’t have to do so simply because it is expected.
Delaying Too Long
If you know you need to downsize but delay doing so because you feel attached to your things, you may be more affected than you realize. When you finally get the job done, you may feel like a huge emotional weight has been lifted. You may ask why you delayed at all? On the flip side, by putting off the job, you may not leave yourself enough time to do it right. This will cause undue stress and blunders as you rush through your downsizing effort.
Here to Support You
Greenwald & Gerke specializes in real estate for people who’ve reached retirement. If your downsizing efforts include selling or buying a new home, call our team to discuss how we can help you achieve your goals: (844) 782-9674.